I wanted to see what other people were using to set up their security deposit accounts? 

I really trusted my agent and knew several people who had invested in Reno so I took the leap after trying and failing for years to buy my own home in really high cost cities where I lived (NYC, DC, SF Bay area). 

A well connected agent can also tap into their network.. for instance, probate attorneys might know of people seeking short-term solutions.

Capacity and Tolerance. 1) Capacity: how many people can you comfortably fit in the property, is there room to add more, or add more value to the tenants to increase rent.2) Tolerance: How many people are you comfortable living with, if there are vacancies are you able to handle that.House hacking is an amazing path to homeownership, and a nice low barrier to entry into self managing your properties.

Don’t be distracted by people with other plans and ways.

Any other advice, or pieces that you think I'm missing - I'd be grateful for any and all wisdom that is shared with me. 

I think once you have 10 or more, it's probably smart to have your own people. 

@Shaylynn O'LearyI think I may have posted this in response to you in another thread a while back, but here goes again.If you pick a random "low cost" market like the ones you named, don't know anyone there, don't set up a network, buy random properties, and turn them over to people you've never met to manage, you will most likely lose money. 

People should stop applying sale of goods theories to it.    

I would not get advice on this from people here also realize a LLC in California has some really hefty fees per year so something to consider